Rank 8: Bidding Adieu to the Telecom Sector-RCOM

Reliance Communications sold off its wireless business and assets to Jio. The business ceased in December 2017, and the process began in January 2018, which is still on. This gave Jio access to all wireless assets including the spectrum. Subscribers using their data cards were upgraded to Jio’s JioFi gradually offering them the 4G wireless Internet. Reliance also exited the DTH business after the entire Big TV was sold off to Pantel TechVeecon in January 2018. It appears Reliance will gradually make a move from the entire telecom sector as its parent ADAG, has ventured into specific areas of defence, energy, and infrastructure to name a few. Though Reliance still offers enterprise services and had also launched IoT under the brand UNLIMIT a couple of years ago, but the broader strategy appears to be of exiting from the sector. It’s recent move to sell all fibre assets to Jio worth Rs 3,000 crore suggests that the group is looking at telecom assets to lower the overall debt..